Income tax 31 March deadline: these 6 important work to be done on 31 March, or else heavy fines will have to be paid
The financial year 2019-20 Income tax will also end on 31 March 2021.
Many rules will be changed at the end of this financial year for Income tax returns. At the same time, the deadline for many works is also ending.
If you do not finish these tasks on time, then the burden on your pocket will increase. You may also have to pay a fine if many things are not done on the fixed deadline.
We are telling you about those 6 tasks, which if you have not completed by 31 March,
then you may have to pay a fine.
Pan-base linking
You must link your PAN card to Aadhaar by 31 March 2021. If you do not complete it by 31 March, your PAN card will become worthless.
On the other hand, if the PAN card is not linked to Aadhaar by 31 March 2021, you may have to pay a fine of up to Rs 10,000 under Section 272B of the Income Tax Act.
Let us tell you that the last date for linking PAN cards from Aadhaar has been extended many times by the Central Government.
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Now the government has made it clear that it will not be increased further.
income tax return If you have not yet filed the return of income tax for the financial year 2020, then fill it by 31 March 2021 without delay.
The deadline for filing belated income tax returns is ending on 31 March 2021.
If you miss this date also and you are unable to fill your belated income tax return, then you may have to pay a fine of up to Rs 10,000.
Faith Scheme Deadline The last date of the trust scheme from the dispute is 31 March 2021, being run by the government.
If you want to settle any dispute under this scheme, then you have time till 31 March.
You can avail of this scheme immediately for matters related to your income tax dispute
Minimum investment in public provident fund If you want to maintain the Public Provident Fund ie PPF,
then you have to pay minimum investment for the financial year 2020 by 31 March 2021.
You will have to invest at least 500 rupees in your PPF account. If you do not do this, you will have to fill the fine to restart your account.
